Wholesale Inflation Hits 6-Month High Of 3.59%

Data released on Monday showed retail inflation picking up in October to a seven-month high, driven by faster rises in prices of food and fuel products, dampening chances of an interest rate cut by the central bank next month.

Wholesale inflation accelerates to 3.59% in October, against 2.6% in September (Representational image)

Wholesale price inflation, based on Wholesale Price Index, accelerated to 3.59 per cent in October - a six-month high, driven by higher food prices, according to data released today. Annual wholesale price inflation was at 2.6 per cent in September. The food inflation quickened to 3.23 per cent in October from 1.99 per cent in September. Among the food items, prices of vegetables prices were up 36.61 per cent year-on-year, potato 44 per cent and onion 127 per cent.

Data released on Monday showed retail inflation picking up in October to a seven-month high, driven by faster rises in prices of food and fuel products, dampening chances of an interest rate cut by the Reserve Bank of India (RBI) next month. Consumer inflation in October increased to 3.58 per cent from a year earlier.